DeFi hacks on Binance Smart Chain rise as TVL and volumes increase
Cointelegraph
Published May 10, 2021 11:54AM ET
Updated May 10, 2021 01:40PM ET
Binance Smart Chain, or BSC, was launched in September 2020 as a parallel blockchain to Binance Chain. It enabled the creation of smart contracts and a staking mechanism for the native token of both blockchains, Binance Coin (BNB).
In its brief nine-month existence, there have been a lot of decentralized finance, or DeFi, projects built on it, but there have been numerous instances of hacks on the blockchain’s protocols as well.
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Written By: Cointelegraph
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